Introduction - Buffalo NY / Niagara NY

[David H.]

Hi Everyone,

I am new to the BP community.  I am a computer programmer by day, with a wife and 2 kids.

I am currently in a buy and hold condo that is cash flow positive along with our primary residence that has an in-law apartment that is cash flow neutral (family member).

I am looking to expand my real estate investments in Niagara County, NY.  I am in the research/education phase and trying not to make a move until I have a smart educated move.  I have found a condo that is cash flow positive, but I am leaning towards investing in a multi-unit (2-3 units).  My goal is to have 10 units in the next 10 years.

For education I am reading books, blogs, articles, and listening to BP podcasts.  I have a good friend that has 9 units total that we work together to check over each other's deals.

I do have a question about using my current HELOC to purchase my next deal. 1. Should I use all of it and then have no closing costs? 2. Should I use a Home Equity Loan instead of the HELOC? 3. I have a FHA loan on my condo I am renting out, can I get another FHA loan?

Thanks,

David